Last Updated on January 12, 2023 by Faiza Murtaza
You may not think so now, but your family’s future is in danger. Not absolute and present danger, but something just as scary nonetheless. Have you thought of what their lives would be like in your absence?
While it may seem dramatic, asking this question is the first step to understanding the gravity of the situation. An estate planning attorney is essential in your life and that of your loved ones. Let’s see why.
Table of Contents
Ideal Eventuality
We all wish to live full and happy lives and die peacefully in our sleep at a ripe old age. Unfortunately, not everyone will share this fate. Things happen, and one ends up dying young, not having done all they could. It’s sad, but they’re gone. What’s worse is if they had children and property and no clear set of instructions on what is to happen to these vulnerable dependants and their property. That collection of dependents and property forms their estate.
The Reality
Under normal circumstances, the government takes over and determines what is to become of the deceased’s estate. You do not want that for your family. You can avoid such an outcome by leaving behind clear and legally binding instructions on what is to become of your estate. That is where an estate planning attorney comes in.
You may look at your present circumstances and doubt whether you need to hire this professional. Estate planning attorneys serve virtually everyone, no matter their station. The idea that only the wealthy with vast resources need them is completely unfounded. As long as you have children who are not yet adults, you own property such as a house, and you have cash investments, you need help in determining the right way to assign it upon your death. It would be a shame to leave your family in legal tussles in your absence.
Why Hire an Estate Planning Attorney?
They make your estate plan legally binding
You already know what you wish to become of your estate when you pass on. You may have even written a will and put in place a trust. If you haven’t, you should seriously consider doing so. It, however, would be meaningless under the law if it does not have legal backing. An estate planning attorney will guide you through the process of making your wishes legally binding in your absence. There are certain legal procedures and expectations placed upon wills and trust of which you are not an expert. Imagine the loss, anguish, and subsequent suffering your family will endure, made worse by the fact that you and your spouse are no longer there.
Your every individual wish will be enforceable
You could go online and fill certain automated forms to act as your estate plan in the future. Your family attorney may also help you in the process. That, however, is not the ideal solution. An estate planning attorney understands the ever-changing estate laws. They can assure you of a compliant plan and one that sees to it that what you want to happen in the future does. Using the standard protocols hardly ever takes into consideration your family’s unique and personalized needs.
You access continued support in estate management
After drafting a water-tight will and estate plan, a good estate planning attorney will stick with you well into the future. Estate laws can be amended and new ones introduced. Your estate may also change, with more property to consider, as well as more children born or their siblings becoming adults. You need to thus update your estate plan to cushion your estate in any eventuality. By hiring the best estate planning attorney Monroe NC has to offer, you get the assurance that no technicality would leave your estate in jeopardy.
The Alternative
Without a proper estate plan in place, you expose your estate to hefty taxes. Those sums have been known to leave a severe dent on inheritances. Creditors could also come after such inheritances, further exposing your family to financial ruin. Apart from property, estate planning allows you to assign guardians to your children in the eventuality that both you and your spouse pass on. If losing your property was not painful enough, the thought of your kids being assigned legal guardians by the courts should have you looking for one right now.
Conclusion
One of the best things you could ever do for your family is to ensure they are comfortable in your absence. We may not be there all the time to personally nurture and protect our children, but nobody says that death should prevent you from trying. Take time to reach out to an expert estate planning attorney near you and find the best way to show your family you love and care for them.
